The Qatar Stock Exchange on Wednesday gained more than 87 points to cross the 10,500 level on an-across-the-board buying, particularly within insurance, industrials and transport counters.
There was weakened selling pressure from local retail investors as the 20-stock Qatar Index rose 0.84% to 10,507.4 points.
Foreign institutions continued to be net buyers but with lesser vigour in the market, whose key benchmark closed 2.02% higher year-to-date.
Market capitalisation grew 0.54%, or more than QR3bn, to QR578.61bn mainly owing to large cap segments.
Islamic equities were seen gaining faster than the other indices in the market, where the Gulf retail investors turned net sellers.
Trade turnover and volume were on the increase in the bourse, where the banking sector alone accounted for about 74% of the total volume.
The Total Return Index rose 0.84% to 19,334.5 points, the Al Rayan Islamic Index (Price) by 1.04% to 2,398.97 points and the All Share Index by 0.74% to 3,106.76 points.
The insurance index gained 1.32%, industrials (0.88%), transport (0.88%), telecom (0.83%), consumer goods (0.76%), banks and financial services (0.67%) and real estate (0.45%).
About 69% of the traded constituents extended gains with major movers being Commercial Bank, Doha Bank, QIIB, Masraf Al Rayan, Al Khaliji, Alijarah Holding, Salam International Investment, Medicare Group, Qatari Investors Group, Aamal Company, Industries Qatar, Gulf International Services, Mesaieed Petrochemical Holding, Qatar Insurance, Mazaya Qatar, Vodafone Qatar, Nakilat and Gulf Warehousing; even as Dlala, Ooredoo, QNB and Zad Holding were among the losers.
Domestic institutions’ net selling declined significantly to QR4.45mn compared to QR28.97mn the previous day.
Local retail investors’ net profit booking shrank influentially to QR16.02mn against QR28.71mn on Tuesday.
However, non-Qatari individual investors’ net selling increased considerably to QR8.06mn compared to QR1.42mn on June 18.
Gulf institutions’ net profit booking strengthened noticeably to QR5.98mn against QR3.79mn the previous day.
Gulf individual investors were net sellers to the extent of QR3.64mn compared with net buyers of QR1.2mn on Tuesday.
Non-Qatari institutions’ net buying decreased substantially to QR38.15mn against QR61.75mn on June 18.
Total trade volume grew 26% to 56.12mn shares, value by 3% to QR324.92mn and transactions by less than 1% to 7,731.
The consumer goods sector’s trade volume more than quadrupled to 6.46mn equities and value grew 19% to QR54.54mn, whereas deals were down 4% to 981.
There was a 32% surge in the telecom sector’s trade volume to 1.8mn stocks but on a 5% fall in value to QR16.33mn and 9% in transactions to 422.
The banks and financial services sector’s trade volume soared 18% to 41.26mn shares, value by 2% to QR131.77mn and deals by 10% to 2,835.
The industrials sector reported a 15% jump in trade volume to 2.48mn equities and 9% in value to QR59.01mn but on an 11% fall in deals to 1,918.
However, the insurance sector’s trade volume plummeted 31% to 0.65mn stocks, value by 17% to QR16.31mn and transactions by 20% to 327.
The real estate sector saw a 9% decline in trade volume to 2.63mn shares and 16% in value to QR24.47mn but on a 15% growth in deals to 1,023.
Although the transport sector’s trade volume was flat at 0.84mn equities, value reported 13% expansion to QR22.5mn and transactions by 22% to 225.
In the debt market, there was no trading of treasury bills and sovereign bonds.